Home in New Mexico?
Posted: Thu May 22, 2003 3:41 am
I am relocating to Albuquerque, NM, and 'might' be interested in purchasing land adn setting a manufactured home there. I say 'might' because of a good/bad experience with my manufactured home in Hillsboro, Oregon.
The good: We purchased a residential lot in 1995 in the only subdivision in Hillsboro that allowed manufactured homes. We also put up a large garage, cement driveway, covered breezeway, etc. We purchased a Marlette MH, which we absolutely love and which was excellent quality-wise. Now here is where the bad experience part comes in: we had a HORRIBLE time with the banks! Because ours was the only subdivision with this setup, we could never get comparables for the appraisal so we could never get what I considered a fair value assessment for it. This was in spite of the fact that our home was much higher quality construction than a lot of the "cracker box" stick-built houses we found going into the nearby subdivisions. We did finally sell the home and relocate, which leads to 2 questions:
1. I know MH's vary a LOT from factory to factory and brand to brand: does anyone know what brand/factory makes the best MH's in or near the Albuquerque area? I want to put in a quality home if I go this route.
2. Does anyone have experience with the banks on home/land packages in the ALB area? Are they more reasonable on values? I have noticed a ton more MH/land packages down here than back in Oregon, so I am inclined to believe the banks are more used to this setup, but I would really appreciate your opinion.
Sorry for the long post, and thank you for any guidance you can give.
The good: We purchased a residential lot in 1995 in the only subdivision in Hillsboro that allowed manufactured homes. We also put up a large garage, cement driveway, covered breezeway, etc. We purchased a Marlette MH, which we absolutely love and which was excellent quality-wise. Now here is where the bad experience part comes in: we had a HORRIBLE time with the banks! Because ours was the only subdivision with this setup, we could never get comparables for the appraisal so we could never get what I considered a fair value assessment for it. This was in spite of the fact that our home was much higher quality construction than a lot of the "cracker box" stick-built houses we found going into the nearby subdivisions. We did finally sell the home and relocate, which leads to 2 questions:
1. I know MH's vary a LOT from factory to factory and brand to brand: does anyone know what brand/factory makes the best MH's in or near the Albuquerque area? I want to put in a quality home if I go this route.
2. Does anyone have experience with the banks on home/land packages in the ALB area? Are they more reasonable on values? I have noticed a ton more MH/land packages down here than back in Oregon, so I am inclined to believe the banks are more used to this setup, but I would really appreciate your opinion.
Sorry for the long post, and thank you for any guidance you can give.